{"id":14746,"date":"2025-03-11T10:00:56","date_gmt":"2025-03-11T10:00:56","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=14746"},"modified":"2025-03-11T10:00:58","modified_gmt":"2025-03-11T10:00:58","slug":"cote-divoire-vaalco-energy-acquires-70-interest-in-offshore-ci-705-block","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/cote-divoire-vaalco-energy-acquires-70-interest-in-offshore-ci-705-block\/","title":{"rendered":"C\u00f4te D\u2019Ivoire: VAALCO Energy Acquires 70% Interest in Offshore CI-705 Block"},"content":{"rendered":"\n

VAALCO Energy announces that it has farmed into the CI-705 block offshore C\u00f4te d\u2019Ivoire. Vaalco will become operator of the block with a 70% working interest and a 100% paying interest though a commercial carry arrangement and is partnering with Ivory Coast Exploration Oil & Gas SAS and PETROCI. The CI-705 block is located in the prolific Tano basin and is approximately 70 kilometers to the west of Vaalco\u2019s CI-40 Block, where the Baobab and Kossipo oil fields are located, and 60 km west of ENI\u2019s recent Calao discovery. Block CI-705 covers approximately 2,300 km2<\/sup>\u00a0and is lightly explored with three wells drilled to date on the block. The water depth across the block ranges from zero to 2,500 meters. Vaalco has invested $3 million to acquire its interest in the new block which it believes has significant prospectivity.<\/p>\n\n\n\n

\u201cWe are very excited to expand our footprint offshore C\u00f4te d\u2019Ivoire,\u201d said George Maxwell, Vaalco\u2019s Chief Executive Officer. \u201cWhen we announced our entry into country in 2024 as a non-operating partner in the CI-40 block, we noted our excitement to be expanding our West African focus in a well-established and investment-friendly country. We believe the CI-705 block is favorably located in a proven petroleum system, near existing infrastructure with access to a strong growing domestic market with attractive upside potential. Under the terms of the farm-in, we will operate the block with a 70% working interest and a 100% paying interest as we carry our partners at commercial terms through the seismic reprocessing and interpretation stages and potentially drilling up to two exploration wells. Our initial assessment is that there are both oil and natural gas prospects on the block and we plan to conduct a detailed, integrated geological analysis to assess and mature our understanding of the block\u2019s overall prospectivity. We have demonstrated our ability to acquire, develop and enhance value with the accretive acquisitions we have executed in the past. We are also excited about the major projects that we have planned in 2025 and 2026, which are expected to deliver a step-change in organic growth across our portfolio. We are pleased to have yet another opportunity to add value and runway for Vaalco\u2019s future.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

VAALCO Energy announces that it has farmed into the CI-705 block offshore C\u00f4te d\u2019Ivoire. Vaalco will become operator of the block with a 70% working interest and a 100% paying … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":14747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-14746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/03\/VAALCO-Cote-Divore.jpg?fit=1514%2C1021&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3PQ","jetpack-related-posts":[{"id":15710,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-vaalco-energy-announces-encouraging-initial-well-results-on-the-etame-14h-well\/","url_meta":{"origin":14746,"position":0},"title":"GABON: Vaalco Energy Announces Encouraging Initial Well Results on the Etame 14H well","author":"Samuel Kamau Mbote","date":"April 21, 2026","format":false,"excerpt":"VAALCO Energy has announced positive operational updates in Gabon regarding the ongoing drilling program, including encouraging initial well results on the Etame 14H well and mobilized the rig to the Ebouri platform. Additionally, the Company provided updates on the timing of bringing the Baobab field in CI-40 block, offshore C\u00f4te\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/03\/VAALCO.png?fit=1200%2C735&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/03\/VAALCO.png?fit=1200%2C735&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/03\/VAALCO.png?fit=1200%2C735&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/03\/VAALCO.png?fit=1200%2C735&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/03\/VAALCO.png?fit=1200%2C735&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":9432,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-vaalco-acquires-additional-working-interest-at-etame-marin-block\/","url_meta":{"origin":14746,"position":1},"title":"GABON: VAALCO Acquires Additional Working Interest at Etame Marin Block","author":"","date":"November 19, 2020","format":false,"excerpt":"Highlights \u2022 Acquiring an additional 27.8% working interest in the Etame Marin block offshore Gabon, increasing VAALCO\u2019s total working interest to 58.8%; \u2022 Nearly doubles VAALCO\u2019s total net production and reserves; \u2022 Increases net revenue interest (\u201cNRI\u201d) production from 4,850 to 9,150 barrels of oil per day (\u201cBOPD\u201d) based on\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/GABON-ETAME.jpg?fit=376%2C485&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12692,"url":"https:\/\/www.oilnewskenya.com\/index.php\/equatorial-guinea-vaalco-energy-announces-approval-of-plan-of-development-for-discovery-on-block-p\/","url_meta":{"origin":14746,"position":2},"title":"EQUATORIAL GUINEA: VAALCO Energy Announces Approval of Plan of Development for Discovery on Block P","author":"","date":"September 26, 2022","format":false,"excerpt":"VAALCO Energy has announced that the Government of Equatorial Guinea has approved the Venus - Block P Plan of Development. VAALCO has an 80% participation interest in the project and is the operator. Upon the execution of final documents, VAALCO will proceed directly to project execution which targets first oil\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/04\/GABON-ETAME.jpg?fit=376%2C485&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9613,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-etame-marine-block-jv-partners-their-pre-emptive-rights\/","url_meta":{"origin":14746,"position":3},"title":"GABON: Etame Marine Block JV Partners Waive Their Pre-Emptive Rights","author":"","date":"January 3, 2021","format":false,"excerpt":"VAALCO Energy has announced that, in connection with VAALCO\u2019s previously announced acquisition from Sasol Gabon S.A.\u00a0 of Sasol\u2019s 27.8% working interest in the Etame Marin block offshore Gabon, the other joint owners in the Etame Marin block have not exercised their pre-emptive rights. As a result, VAALCO will now move\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/GABON-ETAME.jpg?fit=376%2C485&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14679,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cote-divoire-vaalco-energy-announces-significant-milestone-in-its-fpso-dry-dock-refurbishment-project\/","url_meta":{"origin":14746,"position":4},"title":"COTE D\u2019IVOIRE: VAALCO Energy Announces Significant Milestone in Its FPSO Dry Dock Refurbishment Project","author":"","date":"February 4, 2025","format":false,"excerpt":"VAALCO Energy has announced a significant milestone in its C\u00f4te d\u2019Ivoire Floating Production Storage and Offloading vessel (FPSO) Dry Dock Refurbishment Project. In alignment with the project timeline, the FPSO\u00a0Baobab Ivoirien MV10, operated by Canadian Natural Resources International (CNRI), ceased hydrocarbon production as scheduled on January 31, 2025. The final\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/02\/FPSO-Baobab-Ivoirien-MV10.jpg?fit=800%2C500&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/02\/FPSO-Baobab-Ivoirien-MV10.jpg?fit=800%2C500&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/02\/FPSO-Baobab-Ivoirien-MV10.jpg?fit=800%2C500&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/02\/FPSO-Baobab-Ivoirien-MV10.jpg?fit=800%2C500&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":9525,"url":"https:\/\/www.oilnewskenya.com\/index.php\/vaalco-announces-completion-of-3-d-seismic-survey-data-acquisition-over-entire-etame-marin-block\/","url_meta":{"origin":14746,"position":5},"title":"VAALCO Announces Completion of 3-D Seismic Survey Data Acquisition Over Entire Etame Marin Block","author":"","date":"December 8, 2020","format":false,"excerpt":"VAALCO Energy has announced that the acquisition of three dimensional (3-D) seismic data at the Etame Marin block offshore Gabon has been completed. Highlights Completed the acquisition of nearly 1,000 square kilometers of new dual-azimuth proprietary 3-D seismic data over the entire Etame Marin block which will be used to\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/GABON-ETAME.jpg?fit=376%2C485&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=14746"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14746\/revisions"}],"predecessor-version":[{"id":14755,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14746\/revisions\/14755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/14747"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=14746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=14746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=14746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}